Retail sales fall short, markets open lower

May retail sales rose by a less than expected 0.3% to weigh the markets down to a lower open with the Dow falling 50 points to 16,793. Nasdaq lost 18 points to 4,313.

On the upside

The Food and Drug Administration removed a partial hold on Geron's (Nasdaq: GERN) clinical trial of its myelofibrosis treatment imetelstat.

LiveDeal (Nasdaq: LIVE) reported a 244% increase in traffic during the first week of a new ad campaign.

Restoration Hardware (NYSE: RH) swung to a greater than expected profit for the first quarter and lifted its full year forecast.

On the downside

Lululemon Athletica (Nasdaq: LULU) reported sharply lower first quarter earnings, cut its full year forecast and announced the retirement of chief financial officer John Currie at the end of the fiscal year.

Wave Systems (Nasdaq: WAVX) will sell 5.2 million shares of common stock at the discounted price of $1.90 per share.

Ariad Pharmaceuticals (Nasdaq: ARIA) priced its private placement of convertible senior notes.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 lost 6 points to 1937. Bitcoin eased $1.31 or 0.20% to $639.66.

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